S.L. 370.27 Art. 4Applicabilityofthe EU Regulation to the competent authority.

(1) The competent authority shall exercise all the functions, obligations and powers and shall satisfy all the requirements imposed on competent authorities by the EU

Regulation.

(2) Without prejudice to sub-regulation (1), the competent authority may, for the better implementation of the EU Regulation, exercise any of the powers assigned to it under the Act in relation to Maltese managers of qualifying social entrepreneurship funds and European managers of qualifying social entrepreneurship funds marketing their funds in Malta.